The dangerous euro: Why ‘currency users’ cannot avoid austerity
It is said that austerity is our fate. But severe fiscal constraints are a fact of economic life only for countries without their own currency.
Tagged EMU
Five Presidents propose EMU strengthening
How many presidents do you need to make Europe’s Economic and Monetary Union (EMU) work? A “Five Presidents’ Report” was issued in Brussels on 22 June 2015, in response to the shortcomings of existing EMU arrangements…
Modernizing Greece: which structural reforms?
Greece’s problem is not a lack of liberalization, deregulation and privatizations but rather the weakness of its public institutions, underpinned by a chronic revenue shortage. In effect, you may liberalize and deregulate as much as you want but this is not going to make things better for Greece. A progressive agenda aiming to cure the Greek malaise would have to address the competitiveness deficit, low productivity, an overextended and inefficient public sector, an unjust tax system and a couple more core challenges…
